The faster pace of the digital transformation of the Banque Populaire banks and Caisses d’Epargne recognized by D-Rating

Tuesday, 29 january 2019

The Group’s retail banking networks upgraded from “digital followers” to “digital transformers”

D-Rating, a rating agency specializing in monitoring companies’ digital performance, announced yesterday, January 28, 2019, the 2018 ratings of 16 French retail banks*. The Banque Populaire banks and Caisses d’Epargne, whose ratings were raised to BBB-, changed category, moving up from “digital followers” to “digital transformers.” This rating is based on three criteria: the level of customers’ use of digital channels, the performance of the digital offering (i.e., the products & services offered and the customers’ digital pathway), and the transformation process itself.

This confirms that the transformation we have been pursuing over the last two years is real and visible and that it responds to our customers’ needs. They have adopted the new banking practices that we have collectively developed for them within the Group. We have managed to make good headway and to make up for lost ground where necessary. Let’s work together to pursue this positive dynamic,” says Yves Tyrode, Chief Digital Officer of Groupe BPCE.

Banque Populaire has improved its digital performance overall since 2017 and has shown itself capable, in particular, of driving an impressive transformation process, notably in terms of attracting new talent and the use of new technologies. This achievement allows us to look forward next year to greater performance in the customer experience. The Caisse d’Epargne’s profile is similar to that of the Banque Populaire with slightly better contact channels and a more extensive use by customers of digital solutions which, together, offset a weaker integration of the digital dimension in the branches,” explains Didier Farjon, CEO of D-Rating.

*Banque Populaire, BNP Paribas, Caisse d’Epargne, Crédit Agricole, CIC, Crédit du Nord, Crédit Mutuel, Crédit Mutuel Arkéa, HSBC, La Banque Postale, LCL, Société Générale, Boursorama, Hello Bank, ING Direct, Fortuneo